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NORD RESOURCES CORPORATION SUBSIDIARY RECEIVES COURT CONFIRMATION OF $56,000,000 ARBITRATION AWARD

 NORD RESOURCES CORPORATION SUBSIDIARY RECEIVES COURT
 CONFIRMATION OF $56,000,000 ARBITRATION AWARD
 DAYTON, Ohio, Aug. 25 /PRNewswire/ -- Nord Resources Corporation, (NYSE: NRD) today announced that the $56 million arbitration award in favor of its subsidiary, Sierra Rutile Limited ("SRL"), in March 1992, has been confirmed in its entirety by the United States District Court for the Southern District of New York.
 The award against Bomar Resources Inc., now known as Brinc Ltd. ("Old Bomar"), which has been rendered by an arbitration panel acting under rules of the American Arbitration Association, has concluded that old Bomar committed fraudulent acts as SRL's exclusive sales agent and had overbilled, falsified invoices, and had engaged in pervasive wrongdoing in violation to its agency agreement. The arbitrators trebled SRL's damage award under the provisions of the federal Racketeer Influenced and Corrupt Organizations Act ("RICO").
 In confirming the arbitration award which included damages under RICO, Federal Judge John F. Keenan overruled old Bomar's contentions concerning the scope of the arbitration clause, the arbitrators' powers in terms of the award as well as the asserted inability of arbitrators to award RICO trebled damages under New York law. Each of those arguments was found to be unpersuasive and without merit.
 It is known that old Bomar is financially unable to satisfy the award and SRL is actively pursuing its civil action in the United States District Court for the Southern District of New York to impose liability based on the now confirmed arbitration award against those allegedly responsible for the acts and conduct found by the artibtrators to have occured. The defendants include old Bomar's present and former officers and directors, its founder, Benjamin Bollag, various individuals and corporate entities, including the London-based Berisford International PLC and other Berisford companies and their designees to old Bomar's board of directors, and Eggerding & Company, the Amsterdam warehouse at which SRL alleges the rutile entrusted by it to old Bomar was secretly diluted and converted. Varying degrees of damages are claimed against the defendants in the pending action.
 Nord Resources Corporation is a major producer of rutile (a premium titanium dioxide mineral) and kaolin and holds a significant interest in Nord Pacific Limited (NASDAQ: NORPF), a company engaged in the exploration for and development of precious, strategic and base metals.
 -0- 8/25/92
 CONTACT: Terence H. Lang, senior vice president-finance or Susan Shahan, director of shareholders relations, both of Nord Resources Corporation, 513-433-6307/
 (NRD NORPF) CO: Nord Resources Corporation ST: Ohio IN: MNG SU:


KK -- CL008 -- 2931 08/25/92 09:58 EDT
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Publication:PR Newswire
Date:Aug 25, 1992
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